Government approves revival of 7 sick central PSU’s

The government has approved revival of 7 sick central PSUs through disinvestment or joint venture route.  These companies have been chosen for revival based on the recommendations of Board for Reconstruction of Public Sector Enterprises (BRPSE). The sick CPSEs which will be revived include HMT Machine Tools and Tyre Corporation, Tungabhadra Steel Products, HMT Bearings, Richardson & Cruddas Ltd, Central Inland Water Transport Corp and Hoogly Docks & Port Engineers Ltd.
Board for Reconstruction of Public Sector Enterprises (BRPSE) was established in 2004. It is as an advisory body to advise the Government on the strategies, measures and schemes for strengthening, modernizing, reviving and restructuring of public sector enterprises. The Board comprises a Chairman in the rank of Minister of State, three Non-official Members, three Official Members and three Permanent Invitees.  The Board has a Secretary in the rank of Additional Secretary to the Government of India.

Month: Current Affairs - November, 2014